SEC GIVES LIQUID STAKING GUIDANCE SIGNALING STAKING IN ETHEREUM ETFS SOON!

We've got some huge news from the SEC today. They issued a statement highlighting that certain liquid steaking tokens and activities are not securities. So we continue to get additional clarity from the SEC and this could bode very well for the staking approval and the Etherorem's botdytfs as well as the old coin ETF approvals because you're getting, you know, the activities around these tokens, you're getting clarity around them.

So the SEC put out a full write up on their website and they said liquid steak and refers to the process of steaking crypto assets through a software protocol or service provider and receiving a liquid steaking receipt token to evidence the stakers ownership for these staked crypto assets

and any rewards that accrue to them. The statement clarifies the Division's view that, depending on the facts and circumstances, the liquid staking activities covered in this statement do not involve the offer and sale of securities within the meaning of the Section two A one of the Securities Act of nineteen thirty three or the Section three A ten of the Securities Act of nineteen thirty four. So really

great stuff here, folks. We sold Last week, Chair Paul Atkins announced Project Crypto, where they would be providing guidance.

So it seems like we're about to get a lot of guidance from the sec back to back, and one of the things the market is waiting for is approval of staking and ETHEREOMYTFS, and I've been on record saying that's going to bring a lot of inflows into ETH because Wall Street is always looking for yield and Ethereum has the natural staking built into its protocol, So that would be really huge for the Etherum's BODYTF in a to a Salona SPOTTYTF because that's also proof of steak,

so any proof of steak blockchain will benefit significantly. So this is really great clarity. Nature Raci, who's an ETF expert. I interviewed him today actually and I'll be publishing that interview tomorrow, so you don't want to miss it. We talk about when he thinks Blackrock will file for the XRP and Salona SPOTTF and much more. You don't want to miss that, so make sure you got the notification bell enabled. So he said, SEC says certain liquid steaking

tokens are not securities. He says, I think last hurdle in order for the SEC to approve staking in the spot ether ETFs the reason liquid staking tokens will be used to help manage liquidity within spot ETFs, something that was a concern for the SEC. So, folks, we could see the approval of staking in spot ether ETFs this month and they could align with the rally. I've been telling you guys that I believe the charts are showing us that we are headed to the over soul zone.

We're going to build support levels and bounce from there, and I think we're going to see new highs for Bitcoin, Eve, x RP and all the all coins. So this could be a narrative, a huge one, right, and we could see it happen, folks. In addition to other clarity we may get from the SEC once again after Paul Atkins speech last week talking about the launch of Project Crypto. So, folks, great move from the SEC here, really awesome that we're

seeing this update and we want to see more. I'm hoping we see more of this week, next week, and later this month as well. So this is really big now. Eleanor Turrett gave some additional details regarding this for the SEC putting out this guidance. She said it follows a letter last week from the industry players like gto Labs, bit Wise, multi Coin, cab, Vanak, and Solana Institute urging the agency to permit the use of liquid staking tokens

and propose Solana exchange traded products. So this has implications once again for multiple proof of steak blockchains. So incredible stuff. And like I said, man, when these staking gets added to the Etherorem's body taps, the inflows are going to surge. We're going to see a lot of money come in to ETH. Many of you know I'm an ETH holder, and I believe that the market needs to see ETH rally because a lot of all coins are built on Etherorem, so we need liquidy to hit that ecosystem and it

will really help a lot of all coins in the market. Now, folks,

an update here from Franklin Templeton, which is a Wall Street giant building with crypto. They've launched their own ETFs. They're doing tokenization and much more. They've got trillions of

dollars of assets under management. Well, today they said that Franklin Templeton is pleased to share that the Benji token, that's their tokenized money market fund token, represents shares of the Franklin on chain US Government money Fund is now being used as base collateral in structured yield strategies developed by bounce Bits. This marks one of the first implementations of a regulated fund operating with on chain financial infrastructure bb Prime. Ounce biz platform will serve as a bridge

connecting institutional fixed income with automated crypto execution. The platform supports regulated custody, smart contract based capital allocation, and automated execution of strategies. Folks, look at the financialization of these tokenized assets that are happening, and if you look at where Franklin Templeton is tokenizing this one, it's on multiple blockchains,

etherorem Solana, Stellar, Lumens, and much more so. They're using the blockchains that you have, many of you hold the tokens for so we've often talked about Metcal's law and reads law and the network effects. The more builders on a blockchain or a network, the more valuable becomes, the more valuable it's native token becomes. So all of this is very good for the markets. And the more building, the more participants, the more transactions, the more fees. All

of that will drive higher prices. So incredible, incredible news here, folks. Quere credit from our sponsor, and that is I Trust Capital. I Trust Capital allows you to set up a self directed IRA to invest in cryptocurrencies and they offer eighty plus crypto assets. Now, this is a great option because it gives you huge tax benefits. You could roll over your four to one K, your existing IRA to I

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look at this. It's so fascinating. It seems very simple. But go to white House dot gov slash crypto. How things have changed. There is a page on the White House's website specific to crypto. That's amazing. It's kind of surreal. You almost have to pinch yourself like it's just real

and it's just amazing, amazing how things have changed. I once again, very simple, but it's a page dedicated to highlighting the recent report from the White House Digital Asset Working Group and just awesome stuff here, guys, amazing amazing stuff. How things have changed. All right? Moving ahead now, coinbase,

their ethereum layer two called Base, had an outage. That's not good, so Basse blames the faulty sequencer for thirty three minute outage. Fixes made. Now we're still early where you're going to have some bugs, and you know, I've often said that version one point zero of anything, it's going to have bugs. It's not going to be perfect,

and further iteration is needed. So it wasn't a large outage, but obviously Base, the folks at cointas they don't want to have this happening over and over, especially as they have institutions now building on Base along with retails. So let me give you some details. Coinbas is ethereum layer two blockchain Base stopped producing blocks for thirty three minutes on Tuesday after switching to a backup sequencer that wasn't

set properly to process transactions. The incident began at six seven am UTC when the active sequencers started falling behind on block production, prompting Conductor Basis system for managing sequencer availability and reliability to switch sequencers. However, its switched to an unhealthy Mainenet sequencer that was still being set up and thus wasn't able to produce blocks. Base bills x accounts set in a post on Tuesday. So it seems

like something simple here, not too crazy. But you know, if you're a coinbase and you got JP Morgan tokenizing on Base, and you've got retail doing a lot of stuff, this is something you can have happen. But look, there's going to be issues like this for many blockchains or we've seen it across the board. But they got to resolve this and make sure they can handle more transactions

and much more. But I have confidence in Base, and look the article here highlights that Base is still highly centralized, so they have to be a bit more decentralized as well. But again all the work in progress now. Coinbase also

launched embedded Wallets tool as self custody DeFi gained MOMENTU so Coinbase and their team continue to innovate and build some great products. So Coinbased Crypto Exchange is launching a developer tool aimed at simplifying wallet onboarding and boosting technical capabilities as self custody gains momentum in the United States

following the passage of procrypto legislation earlier this month. Offer through the coinbased Developer Platform CDP, the Embedded Wallets tool gives developers access to the same infrastructure that will power coinbases forthcoming decentralized exchange, the company disclosed Tuesday. The toolkit offers native rewards in USDC. The stable coin issued by Circle users can earn up to four point one percent APY on USDC balances held within the wallets without requiring staking.

According to the Coinbased Developer Platform, this APY can either be retained by developers or passed on to the users. The new developer tool is being targeted at developers across decentralized finance, gaming, payments, and web three social media sectors. It arrives as coinbase has rebranded its own wallet into an everything app now called the Base App after its Layer two network. So this is great innovation. I love it.

I love that coinbas is launching a decentralized exchange. This is the way, as the Mandalorian would say, right, this is the way, and I love that they're doing this aspect and enabling DeFi and much more so, very very great stuff here. Now look at this. Brazil's Lower House

is holding a hearing on creating a national bitcoin reserve. So, folks, game theory is playing out. The United States obviously did it set up a strategic bitcoin reserve using the bitcoin to have in custody, and there are talks of them looking to buy bitcoin. I think as things progress, we're going to see more countries do this and they're going to hold bitcoin like they do gold, because bitcoin is

digital gold. So this is very bullish. So Brazil's House of Representatives will hold a hearing on August twentieth to discuss a bill proposing to create of a national bitcoin reserve in the country. According to the house website, at least six institutions are slated to participate, including the Central Bank of Brazil, the Ministry of Finance, a crypto advocacy association,

and representatives from fintech companies and the banking sector. The bill, introduced in November twenty twenty four, seeks to allow up to five percent of the country's treasury funds to be used to buy bitcoin, which translates to a potential investment of roughly fifteen billion dollars assuming the central Bank's total reserves of about three hundred billion as of February. Incredible

stuff here, folks, I mean, this is huge. According to the bill, the Cryptocurrency Reserve would protect international reserves against exchange rate fluctuations and geopolitical risks, and promote the use of blockchain technologies in the public and private sectors. Folks, I hope you recognize the paradigm shift that's taking place here and that we are still relatively early compared to other assets like the gold and precious metals market, real estate,

and the stock market. Of course, so more to come. And that's why I've been saying I'm not only looking to take profits in this bull market, but future bull markets, and I'll be riding the waves of the bull and bear markets, guys. And until you know, this market becomes so big you don't have the same level of upside. You're still going to be able to make money, you know, It's just like the stock market. You can make money, But as Paul trus Jones said, nothing moves like crypto

and bitcoin. This is the fastest horse in the asset race right now. Now, speaking of bitcoin, Michigan Pension Fund

deepens bitcoin exposure with an eleven million dollars stake in ARC ETF. So we saw multiple states their pensions started investing in bitcoin ETFs and they're going the way of arcs right here, so to increase their exposure, specifically in RC twenty one shares exchange traded fund. By the end of the second quarter, the State of Michigan Retirement System owned three hundred thousand ARC shares worth ten er point seventy three seven million dollars, according to regulatory filings with

the SEC. This marks a notable increase from one hundred and ten thousand shares it held in the previous year. So you got pensions countries looking to buy and they're ramping up. They're buying more and more. And you know, as I just mentioned, Paul Trooger Jones said, nothing moves like this acid claus So it makes sense that they're diversifying and they're going to ETF route. So it's safe for them. You know, that's all regulated. And of course

they're talking about the SPOTYTF. So incredible stuff, guys, and this is why you've been seeing the inflows increase, you know, for all the ETFs in general combined, but also you know you look at Black Rocks and the record number of inflows it's been having. July was a huge month for Bitcoin and etherorem SPOTYTF. So guys, things are moving ahead. I hope you are still bullish and you have not turned bearish because the price is experiencing a pullback right

now as we've been talking about. As I highlighted in today's stream live stream, we are going to find a bottom soon. I believe there's going to be a rally this month. Guys. It's not guaranteed, but I believe there's a high probability of that happening. So, folks, that's the news. Let me know what you think. Leave your thoughts and comments below hit the thumbs up button. Great way you can support me in the podcast is by subscribing to

my free email newsletter. It's one hundred percent free. Check out my book on Amazon, it's available in paperback, in digital, and my course at Mycrypto course dot com. This is a comprehensive course that teaches you every aspect of crypto. So if you want to expand your knowledge here check it out. Go to mycrypto coourse dot com. Folks, all the links will being a description. Thank you so much for watching, listening. I appreciate you all, and I'll talk to you all later